Stock Analysis on Net

Union Pacific Corp. (NYSE:UNP)

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Union Pacific Corp., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Turnover Ratios
Inventory turnover 31.34 29.91 31.29 32.46 31.35 33.38 34.44 33.57 30.77 29.66 31.22 35.11 31.95 29.89 29.29 30.62 30.21 30.24 31.15 28.91
Receivables turnover 11.93 11.40 11.14 11.63 12.48 13.56 12.82 13.15 11.90 11.42 11.57 12.66 12.63 12.34 11.99 12.98 12.53 14.55 12.91 13.61
Working capital turnover 114.40 476.41 67.83
Average No. Days
Average inventory processing period 12 12 12 11 12 11 11 11 12 12 12 10 11 12 12 12 12 12 12 13
Add: Average receivable collection period 31 32 33 31 29 27 28 28 31 32 32 29 29 30 30 28 29 25 28 27
Operating cycle 43 44 45 42 41 38 39 39 43 44 44 39 40 42 42 40 41 37 40 40

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Union Pacific Corp. inventory turnover ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Union Pacific Corp. receivables turnover ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Union Pacific Corp. number of days of receivables outstanding improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Union Pacific Corp. operating cycle improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Inventory Turnover

Union Pacific Corp., inventory turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 6,091 6,007 6,031 6,159 5,941 5,963 6,056 6,180 6,566 6,269 5,860 5,733 5,566 5,504 5,001 5,141 4,919 4,244 5,229 5,212 5,516 5,596 5,384
Materials and supplies 775 807 770 743 770 742 728 741 794 790 726 621 664 688 659 638 649 668 692 751 771 775 780
Short-term Activity Ratio
Inventory turnover1 31.34 29.91 31.29 32.46 31.35 33.38 34.44 33.57 30.77 29.66 31.22 35.11 31.95 29.89 29.29 30.62 30.21 30.24 31.15 28.91
Benchmarks
Inventory Turnover, Competitors2
FedEx Corp. 136.74 139.15 140.40 149.26 146.78 143.65 146.45 146.80 150.05 150.76 150.16 143.03 135.08 127.31 120.56 121.01 122.65 120.12 121.41 126.03

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Inventory turnover = (Operating revenuesQ3 2024 + Operating revenuesQ2 2024 + Operating revenuesQ1 2024 + Operating revenuesQ4 2023) ÷ Materials and supplies
= (6,091 + 6,007 + 6,031 + 6,159) ÷ 775 = 31.34

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Union Pacific Corp. inventory turnover ratio deteriorated from Q1 2024 to Q2 2024 but then improved from Q2 2024 to Q3 2024 exceeding Q1 2024 level.

Receivables Turnover

Union Pacific Corp., receivables turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating revenues 6,091 6,007 6,031 6,159 5,941 5,963 6,056 6,180 6,566 6,269 5,860 5,733 5,566 5,504 5,001 5,141 4,919 4,244 5,229 5,212 5,516 5,596 5,384
Accounts receivable, net 2,036 2,118 2,162 2,073 1,934 1,826 1,955 1,891 2,052 2,052 1,958 1,722 1,679 1,666 1,610 1,505 1,565 1,388 1,669 1,595 1,650 1,809 1,672
Short-term Activity Ratio
Receivables turnover1 11.93 11.40 11.14 11.63 12.48 13.56 12.82 13.15 11.90 11.42 11.57 12.66 12.63 12.34 11.99 12.98 12.53 14.55 12.91 13.61
Benchmarks
Receivables Turnover, Competitors2
FedEx Corp. 8.84 8.25 8.68 8.85 8.64 8.08 8.57 7.88 7.86 7.34 7.79 6.96 6.86 6.55 6.80 6.85 7.47 7.13 7.48 7.65
Uber Technologies Inc. 11.28 10.59 10.41 10.95 11.98 13.59 13.16 11.47 11.77 10.39 8.65 7.16 11.13 10.67 10.04 10.38 15.58 21.59 20.93 11.65
United Parcel Service Inc. 9.86 9.89 9.39 8.11 9.84 10.03 9.60 7.97 9.21 8.78 8.82 7.76 9.01 9.12 8.84 7.87 8.93 8.38 9.23 7.76

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Receivables turnover = (Operating revenuesQ3 2024 + Operating revenuesQ2 2024 + Operating revenuesQ1 2024 + Operating revenuesQ4 2023) ÷ Accounts receivable, net
= (6,091 + 6,007 + 6,031 + 6,159) ÷ 2,036 = 11.93

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Union Pacific Corp. receivables turnover ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Working Capital Turnover

Union Pacific Corp., working capital turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets 4,149 4,498 4,194 4,148 3,813 3,752 4,058 3,952 4,405 3,976 3,876 3,551 3,810 3,764 3,719 4,214 5,130 5,083 3,804 3,459 4,073 4,086 3,953
Less: Current liabilities 5,366 4,287 4,534 5,106 5,304 5,249 6,209 5,520 5,712 6,002 5,462 5,744 5,111 4,357 4,871 4,173 4,841 5,279 4,641 4,351 4,587 5,665 5,262
Working capital (1,217) 211 (340) (958) (1,491) (1,497) (2,151) (1,568) (1,307) (2,026) (1,586) (2,193) (1,301) (593) (1,152) 41 289 (196) (837) (892) (514) (1,579) (1,309)
 
Operating revenues 6,091 6,007 6,031 6,159 5,941 5,963 6,056 6,180 6,566 6,269 5,860 5,733 5,566 5,504 5,001 5,141 4,919 4,244 5,229 5,212 5,516 5,596 5,384
Short-term Activity Ratio
Working capital turnover1 114.40 476.41 67.83
Benchmarks
Working Capital Turnover, Competitors2
FedEx Corp. 21.26 18.06 17.45 17.94 21.22 22.52 16.22 15.35 16.74 13.05 13.06 12.13 9.67 8.17 9.27 11.46 31.44 26.10 22.61 17.11
Uber Technologies Inc. 9.33 18.50 18.54 20.23 28.22 17.25 65.98 80.50 83.47 1,646.62 9.53 129.39 10.72 3.69 4.83 3.46 3.19 1.71
United Parcel Service Inc. 41.54 23.94 60.59 52.36 27.10 20.23 18.10 24.61 14.61 12.16 11.27 13.21 12.81 14.87 19.13 26.45 17.95 19.57 21.16 43.84

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Working capital turnover = (Operating revenuesQ3 2024 + Operating revenuesQ2 2024 + Operating revenuesQ1 2024 + Operating revenuesQ4 2023) ÷ Working capital
= (6,091 + 6,007 + 6,031 + 6,159) ÷ -1,217 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

Union Pacific Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Inventory turnover 31.34 29.91 31.29 32.46 31.35 33.38 34.44 33.57 30.77 29.66 31.22 35.11 31.95 29.89 29.29 30.62 30.21 30.24 31.15 28.91
Short-term Activity Ratio (no. days)
Average inventory processing period1 12 12 12 11 12 11 11 11 12 12 12 10 11 12 12 12 12 12 12 13
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
FedEx Corp. 3 3 3 2 2 3 2 2 2 2 2 3 3 3 3 3 3 3 3 3

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 31.34 = 12

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Receivable Collection Period

Union Pacific Corp., average receivable collection period calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Receivables turnover 11.93 11.40 11.14 11.63 12.48 13.56 12.82 13.15 11.90 11.42 11.57 12.66 12.63 12.34 11.99 12.98 12.53 14.55 12.91 13.61
Short-term Activity Ratio (no. days)
Average receivable collection period1 31 32 33 31 29 27 28 28 31 32 32 29 29 30 30 28 29 25 28 27
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
FedEx Corp. 41 44 42 41 42 45 43 46 46 50 47 52 53 56 54 53 49 51 49 48
Uber Technologies Inc. 32 34 35 33 30 27 28 32 31 35 42 51 33 34 36 35 23 17 17 31
United Parcel Service Inc. 37 37 39 45 37 36 38 46 40 42 41 47 40 40 41 46 41 44 40 47

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 11.93 = 31

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Union Pacific Corp. number of days of receivables outstanding improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Operating Cycle

Union Pacific Corp., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data
Average inventory processing period 12 12 12 11 12 11 11 11 12 12 12 10 11 12 12 12 12 12 12 13
Average receivable collection period 31 32 33 31 29 27 28 28 31 32 32 29 29 30 30 28 29 25 28 27
Short-term Activity Ratio
Operating cycle1 43 44 45 42 41 38 39 39 43 44 44 39 40 42 42 40 41 37 40 40
Benchmarks
Operating Cycle, Competitors2
FedEx Corp. 44 47 45 43 44 48 45 48 48 52 49 55 56 59 57 56 52 54 52 51

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 12 + 31 = 43

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Union Pacific Corp. operating cycle improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.